Insights from BCC Research

Cities in America Are Getting Smarter About Parking Solutions

In Florida, the cities of St. Petersburg and Sarasota have joined the growing trend of U.S. cities that have adopted smart parking technology solutions and applications to ease commuter congestion and reduce carbon emissions.

The cities have partnered with Streetline, a smart-parking company that develops data and advanced analytics software to solve parking issues using machine-learning enabled detection technologies as well as web and mobile applications.

Drivers can find available on-street parking spaces, as well as the locations of parking garages and lots, using Parker, a mobile app for iPhone and Android smartphones developed by San Mateo-based Streetline. The system also enables merchants to publish available parking near their location on their websites and encourage more tourists to visit their stores. Both cities will receive detailed analytics to help it plan programs and set parking policies that enhance city mobility.

Parking creates 30% of traffic and congestion in American cities, experts say. A global survey of commuters in 20 international cities conducted by IBM found that in the past year, nearly six out of 10 drivers had abandoned their search for a parking space at least once, and drivers have spent an average of nearly 20 minutes in pursuit of a coveted spot.

Streetline claims real-time guidance to available parking will save drivers between 6-14 minutes finding parking. The time savings will reduce carbon emissions for the city, increase economic productivity, and fewer cars driving will increase safety for pedestrians and cyclists. These benefits can accrue even if a city has parking spaces that are available, if motorists were not previously aware of the location of available parking spaces, the company says.

“We have available parking downtown, but it’s just not always available right where people want to park,” says Evan Mory, St. Petersburg’s director of transportation and parking management. “We feel like this will really help with that perception issue.”

Streetline’s patented smart-parking platform detects the presence of a vehicle through a network of wireless sensors located in individual parking spaces. The sensors transmit this data to Streetline’s space estimation engine, which in turn publishes that data to provide the location and availability of on-street spaces in real-time, as well as locations, rates and hours of operation for garages and lots.

Sarasota’s Parking Division Manager Mark Lyons says the mobile app is a boon for popular warm-weather cities that can grow uncomfortably crowded with seasonal visitors. “Sarasota is a destination for tourism from across the state and around the world. This can create congestion,” he says. “Parker will help both visitors and residents park efficiently and help our economy grow.”

Los Angeles, Indianapolis, New Brunswick, Reno and Washington, D.C. are among a host of other cities that also have adapted the mobile application.

BCC Research, in its January 2018 report Smart Parking Technologies and Global Markets, estimates the global market for smart parking technology solutions and applications to reach $15.5 billion in 2017 and $35.3.billion in 2022, with a compound annual growth rate (CAGR) of 17.9%.

To learn more about this booming market, download the free report overview.